SOURCE: Cavico Corporation

December 15, 2006 11:00 ET

Cavico Investing U.S. $1.25M Into Vietnam Growth Investment Fund

New Investment Fund Will Be Managed by HSBC and Vietnam Fund Management Company

LOS ANGELES, CA and HANOI, VIETNAM -- (MARKET WIRE) -- December 15, 2006 -- Cavico Corporation (PINKSHEETS: CVCP), a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads, mines and urban buildings throughout Vietnam and the Pacific Rim, announced today that it will invest U.S. $1.25 million into a new fund being created by Vietnam Fund Management Company, in conjunction with HSBC. The fund will invest its capital into high-growth industries throughout Vietnam, including pharmaceuticals, telecommunications, banking, real estate and petroleum. Cavico's investment represents 5% of the funds total capital of U.S. $25 million (400 billion VND).

The fund, referred to as VF 2, is being capitalized by Cavico and other Vietnamese companies, including Dragon Capital Markets Ltd, Vinamilk, Petroleum Finance Company, Military Bank, Sacombank, Indovinabank, Bao Minh and the Petroleum Insurance Company.

"This investment represents an important step for Cavico on the road to becoming a major player in the economic expansion of Vietnam's economy," said Mr. Bui Quang Ha, CEO of Cavico. "The fund will use its expertise to invest into many areas of Vietnam's infrastructure. We feel that Cavico's participation in the fund will allow the company to gain credibility as an investor and supporter of the growth of Vietnam and our neighbors throughout Southeast Asia."

About Cavico Corporation

Founded in 2000, Cavico is a major infrastructure construction, infrastructure investment and natural resources conglomerate headquartered in Hanoi, Vietnam. Cavico is highly respected for its core competency in the construction of mission-critical infrastructure including hydroelectric plants, highways, bridges, tunnels and urban community developments. One of the company's primary competitive advantages is its ability to nurture a project "from concept through completion" with a vertical portfolio of interrelated investment, permitting, design, construction management and facility maintenance services. Cavico's project partners include top multi-national corporations and government organizations. The company employs more than 3,000 people. For more information, visit http://www.cavicocorp.com.

A profile for investors can be accessed at http://www.hawkassociates.com/cvcpprofile.aspx.

For investor relations questions, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.americanmicrocaps.com or http://www.hawkassociates.com. Investors can also contact Mark Moline at (760) 458-4899, e-mail: mark@cinapsys.com.

Safe-Harbor Statement

This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products and services, inability to deliver products and services when promised, inability of potential customers to pay for ordered products and services, and political and economic risks inherent in international trade.

Contact Information

  • Contacts:

    Cavico Corporation Investor Relations
    Hawk Associates, Inc.
    Frank N. Hawkins, Jr.
    Julie Marshall
    (305) 451-1888
    Email Contact

    Media and Communications
    Cinapsys, Inc.
    Mark Moline
    (760) 458-4899
    Email Contact

    For Cavico Corporation
    Timothy Pham
    (714) 843-5456
    Email Contact

    U.S. Office:
    17011 Beach Blvd.
    Suite 1230
    Huntington Beach, CA 92647
    Phone: (714) 843-5456
    Fax: (714) 843-5451